Reinsurance News
Insurance and reinsurance technology related news, focused on the wave of interest in InsurTech start-ups, investing in insurance technology initiatives, as well as reinsurance tech start-ups or ReinsurTech.
15th August 2019
Sompo Holdings Asia, part of the Japanese insurance and reinsurance company, has entered into a proof-of-value contract with cloud-based insurtech Slice Labs in a move designed to bring on-demand insurance to the Asia Pacific region. As per the agreement, Sompo is to license the Slice Insurance Cloud Services (ICS) platform to ... Read the full article
15th August 2019
The North American operations of Arch Insurance is set to acquire technology and analytics-focused managing general underwriter, Ventus Risk Management. Ventus was founded in 2016 and specialises in providing coastal commercial property insurance solutions to small and mid-sized enterprises. Arch Insurance North America plans to integrate Ventus into its platform, enabling third-party ... Read the full article
14th August 2019
Boston-based InsurTech, Corvus Insurance has expanded its product line with the launch of Smart Tech E&O, a data-enabled Tech E&O and Cyber Liability policy which helps both brokers and policyholders better predict and prevent risk. The product assists both brokers and policyholders through automated IT security analysis, industry benchmarking and ongoing ... Read the full article
14th August 2019
InsurTech firm Previsico, a SpinOut company from Loughborough University that specialises in modelling flooding in real-time, has announced its entry into the insurance sector following a successful seed funding round. The InsurTech specialises in modelling surface water flooding in real-time, and leverages the latest weather predictions to produce property-level flood nowcasts ... Read the full article
13th August 2019
The auto insurance offering being developed by Tesla, the Elon Musk-led automotive and energy company, is not going to disrupt the sector rapidly and the company is likely to look to partnerships, analysts said. Equity analysts from Credit Suisse recently attended a presentation by Tesla and heard the firm's Head of ... Read the full article
12th August 2019
Roanoke Travel Insurance, a subsidiary of Munich Re Specialty Group North America, has partnered with sports technology and registration platform provider Stack Sports, in a move that will power SecureFee Registration Cancellation Insurance. SecureFee provides financial protection to athletes faced with circumstances such as injury, illness, transportation and other plan altering ... Read the full article
12th August 2019
Specialty insurer and reinsurer Canopius AG has entered into a partnership with artificial intelligence (AI) and deep-learning property analytics start-up, Arturo. According to an announcement on the new arrangement, Arturo's deep-learning property analysis capability will be integrated into Canopius. The integration is expected to provide the re/insurer with physical property characteristic and ... Read the full article
7th August 2019
Global reinsurer Swiss Re is working with computer software firm Expert System as it looks to harness Artificial Intelligence in the automation of tasks such as assessing risk reports or claims evaluation. Expert System says its AI-driven tool ‘Cogito’ applies human-like comprehension to make information access easier as well as faster ... Read the full article
1st August 2019
Lloyd’s Lab, the innovation accelerator launched by the Lloyd’s market last year, has announced the third cohort of insurtech firms selected to take part in its 10-week program. The 11 successful teams were selected from more than 130 applications around the world, and will begin working in the Lab from September ... Read the full article
31st July 2019
GEICO, the auto insurance arm of reinsurance and investments giant Berkshire Hathaway, has launched and is trialling its first telematics product, named DriveEasy. The push into telematics based solutions to provide analytics and intelligence on driver performance has likely been driven by a desire to reign in claims costs, while charging ... Read the full article
29th July 2019
Pacific Life Re has announced a new partnership with FWD Singapore, which will see FWD adopt automated underwriting technology powered by Pacific Life Re’s insurtech subsidiary, UnderwriteMe. The digital solution, which is built on the Underwriting Rules Engine (URE), is expected to enhance FWD's real-time risk assessment on policy applications and ... Read the full article
26th July 2019
Corvus Insurance, an AI-driven insurtech MGA backed by ILS and reinsurance investment manager Hudson Structured Capital Management (HSCM), has expanded its product line with an offering that focuses on silent cyber risks posed by cargo insurance policies. The offering, called Smart Cargo + Cyber, will allow brokers and their policyholders to ... Read the full article
26th July 2019
Aon has entered into a new commercial partnership with Bunker, a business insurance and compliance platform for independent workers and enterprises, to target the growing on-demand, sharing economy. The agreement provides Aon and its clients with access to Bunker’s compliance platform and Live Certificate of Insurance, which ensures an organisation’s contractors, ... Read the full article
25th July 2019
Total new InsurTech funding commitments exceeded $1.2 billion for the fourth consecutive quarter in Q2 2019, as 69 deals with a total value of $1.41 billion were announced in the period, according to insurance and reinsurance broker, Willis Towers Watson (WTW). The broker's latest quarterly InsurTech report highlights a buoyant investment ... Read the full article
25th July 2019
The US Marine division of global re/insurer AXA XL has partnered with InsurTech Managing General Underwriter (MGU), Vindati, to offer Ocean Cargo insurance for SMEs through Vindati's proprietary rate, quote, bind, issue online platform. Vindati offers specialty products and an integrated shopping experience for brokers and agents. In addition to offering AXA ... Read the full article
